Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,097,565
MoM +$52,077 +5.0% up $52,077, 5.0% versus February 2021 YoY +21.6% up 21.6% versus March 2020
Source: TRREB MarketWatch, March 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2021
In March 2021 the average selling price across the Greater Toronto Area rose 5.0% to $1,097,565 versus February 2021, and sales jumped 42.7% to 15,652.
Headline indicators
All TRREB areas · all home types
Median price — The midpoint sale price. Less affected by a few very high or low sales than the average.
$945,000
MoM +$33,000 +3.6% up $33,000, 3.6% versus February 2021 YoY +20.4% up 20.4% versus March 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,007,600
MoM +$38,000 +3.9% up $38,000, 3.9% versus February 2021 YoY +16.5% up 16.5% versus March 2020
Sales — Firm transactions reported through the MLS® System during the month.
15,652
MoM +4,682 +42.7% up 4,682, 42.7% versus February 2021 YoY +95.4% up 95.4% versus March 2020
Dollar volume — Total value of all sales in the month.
$17.18B
MoM +$5,710,072,337 +49.8% up $5,710,072,337, 49.8% versus February 2021 YoY +137.5% up 137.5% versus March 2020
New listings — Properties newly listed during the month.
22,709
MoM +7,572 +50.0% up 7,572, 50.0% versus February 2021 YoY +57.4% up 57.4% versus March 2020
Active listings — Listings available at month end.
10,603
MoM +1,876 +21.5% up 1,876, 21.5% versus February 2021 YoY −0.7% down 0.7% versus March 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
10
MoM −4 days −28.6% down 4 days, 28.6% versus February 2021 YoY −23.1% down 23.1% versus March 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
13
MoM −6 days −31.6% down 6 days, 31.6% versus February 2021 YoY −23.5% down 23.5% versus March 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
107%
MoM no change no change versus February 2021 YoY +3.9% up 3.9% versus March 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
68.9%
MoM −3.5 pp −4.9% down 3.5 pp, 4.9% versus February 2021 YoY +24.1% up 24.1% versus March 2020
Months of inventory — Active listings divided by monthly sales — how long the current stock would take to sell. Computed here, not TRREB’s trend figure.
0.7
MoM −0 −14.8% down 0, 14.8% versus February 2021 YoY −49.2% down 49.2% versus March 2020
The month in 60 seconds
- Across all TRREB areas, new listings jumped 50.0% to 22,709 versus February 2021.
- Across all TRREB areas, sales jumped 42.7% to 15,652 versus February 2021.
- Across all TRREB areas, active listings jumped 21.5% to 10,603 versus February 2021.
- Across all TRREB areas, the average selling price rose 5.0% to $1,097,565 versus February 2021.
- Across all TRREB areas, the median selling price rose 3.6% to $945,000 versus February 2021.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2020%
period not printed
Toronto employment growth
-5.4%
February 2021
Toronto unemployment rate
11.1%
February 2021
Inflation (CPI, year-over-year)
1.1%
February 2021
Bank of Canada overnight rate
0.25%
March 2021
Prime rate
2.45%
March 2021
1-year mortgage rate
2.79%
March 2021
3-year mortgage rate
3.49%
March 2021
5-year mortgage rate
4.79%
March 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 7,577 | +2,634 +53.3% up 2,634, 53.3% versus February 2021 | $1,402,849 | +$31,058 +2.3% up $31,058, 2.3% versus February 2021 | +26.6% up 26.6% |
| Semi-detached | 1,479 | +502 +51.4% up 502, 51.4% versus February 2021 | $1,045,519 | −$5,301 −0.5% down $5,301, 0.5% versus February 2021 | +17.5% up 17.5% |
| Att/row/townhouse | 1,482 | +420 +39.5% up 420, 39.5% versus February 2021 | $951,984 | +$10,947 +1.2% up $10,947, 1.2% versus February 2021 | +21.1% up 21.1% |
| Condo townhouse | 1,149 | +370 +47.5% up 370, 47.5% versus February 2021 | $765,521 | +$20,667 +2.8% up $20,667, 2.8% versus February 2021 | +18.2% up 18.2% |
| Condo apartment | 3,821 | +705 +22.6% up 705, 22.6% versus February 2021 | $676,052 | +$33,706 +5.2% up $33,706, 5.2% versus February 2021 | +2.6% up 2.6% |
| Link | 99 | +37 +59.7% up 37, 59.7% versus February 2021 | $997,084 | +$16,116 +1.6% up $16,116, 1.6% versus February 2021 | +29.9% up 29.9% |
| Co-op apartment | 24 | +6 +33.3% up 6, 33.3% versus February 2021 | $671,322 | +$106,273 +18.8% up $106,273, 18.8% versus February 2021 | +33.8% up 33.8% |
| Detached condo | 13 | +5 +62.5% up 5, 62.5% versus February 2021 | $893,462 | −$55,284 −5.8% down $55,284, 5.8% versus February 2021 | +65.9% up 65.9% |
| Co-ownership apartment | 8 | +3 +60.0% up 3, 60.0% versus February 2021 | $414,125 | +$46,725 +12.7% up $46,725, 12.7% versus February 2021 | −18.2% down 18.2% |
Average price by home type
13 months to March 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| Mar '20 | 1107870 | 889480 | 786062 | 647780 | 658791 |
| Apr '20 | 983630 | 865971 | 735818 | 614162 | 578283 |
| May '20 | 1033341 | 867717 | 743380 | 618532 | 625445 |
| Jun '20 | 1127419 | 929138 | 786390 | 654897 | 631704 |
| Jul '20 | 1154356 | 915451 | 795330 | 647470 | 635778 |
| Aug '20 | 1172880 | 905712 | 806239 | 660177 | 629643 |
| Sep '20 | 1184700 | 922269 | 822046 | 656991 | 634756 |
| Oct '20 | 1204844 | 935429 | 821590 | 662572 | 622122 |
| Nov '20 | 1202281 | 946735 | 833114 | 657370 | 605863 |
| Dec '20 | 1240632 | 939660 | 871210 | 669204 | 600840 |
| Jan '21 | 1359915 | 996794 | 913923 | 699713 | 600830 |
| Feb '21 | 1371791 | 1050820 | 941037 | 744854 | 642346 |
| Mar '21 | 1402849 | 1045519 | 951984 | 765521 | 676052 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +24.1% up 24.1%
- Toronto W08 +18.8% up 18.8%
- Toronto E06 +18.6% up 18.6%
- Toronto W02 +18.3% up 18.3%
- Toronto C06 +18.2% up 18.2%
Bottom 5
- Toronto C11 −18.0% down 18.0%
- King −8.2% down 8.2%
- Toronto E08 −5.2% down 5.2%
- Clarington −3.1% down 3.1%
- Toronto E03 −3.0% down 3.0%
Sales, month-over-month
Top 5
- Brock +126.7% up 126.7%
- Toronto C06 +103.6% up 103.6%
- Toronto E05 +92.3% up 92.3%
- Toronto E06 +90.6% up 90.6%
- Scugog +77.8% up 77.8%
Bottom 5
- Toronto C10 +7.7% up 7.7%
- Toronto W04 +14.1% up 14.1%
- Toronto C08 +17.9% up 17.9%
- Toronto C01 +18.1% up 18.1%
- Toronto W06 +20.0% up 20.0%
Areas below the sales threshold are excluded — with a handful of sales, a couple of transactions can invent a swing that is not a market move.
Market balance
Sales-to-new-listings and months of inventory, computed from this month’s counts
All TRREB areas
SNLR
68.9%
prior month 72.5%
Months of inventory
0.7
All TRREB areas sits in a seller's market: 68.9% of new listings sold and 0.7 months of inventory on hand.
City of Toronto (416)
SNLR
71.2%
prior month 79.5%
Months of inventory
0.8
City of Toronto (416) sits in a seller's market: 71.2% of new listings sold and 0.8 months of inventory on hand.
905 total
SNLR
67.9%
prior month 69.3%
Months of inventory
0.6
905 total sits in a seller's market: 67.9% of new listings sold and 0.6 months of inventory on hand.
These are computed here from the month’s raw counts. TRREB also publishes its own trend-smoothed SNLR and months-of-inventory figures, which are shown separately on the area pages and are not the same measure.
Where I work
Downtown TorontoMidtownScarboroughYork RegionDurham Region
Downtown
$840,285
- Sales
- 1,173
- SNLR
- 76.5%
- MOI
- 0.8
Aggregated across 2 districts · View →
Midtown
$1,685,836
- Sales
- 542
- SNLR
- 62.7%
- MOI
- 1.1
Aggregated across 6 districts · View →
Scarborough
$902,903
- Sales
- 899
- SNLR
- 72.0%
- MOI
- 0.6
Aggregated across 8 districts · View →
York Region
$1,265,481
- Sales
- 2,911
- SNLR
- 61.5%
- MOI
- 0.9
Region total · View →
Durham Region
$901,322
- Sales
- 2,077
- SNLR
- 73.2%
- MOI
- 0.4
Region total · View →
Average price for a multi-district group is weighted by dollar volume, not an average of averages — that would give a district with three sales the same weight as one with three hundred.